CUNA praised several regulatory relief suggestions from NCUA in a letter sent to Senate Banking Committee leadership before Acting Chair J. Mark McWatters' testimony, part of a hearing focusing on regulators’ role in economic growth.
CUNA wrote to House and Senate appropriators Friday in strong support of funding NCUA’s Community Development Revolving Loan Fund at $2 million for fiscal year 2018. The administration’s budget submission to Congress eliminates CDRLF funding.
NCUA Chair J. Mark McWatters will testify before the Senate Banking Committee Thursday, as part of the committee’s focus on fostering economic growth. The committee previously hosted two other hearings on this topic, one in which CUNA testified.
NCUA’s revised MBL rule has been in effect for more than 6 months now, and according to the agency, it has received a number of questions about the rule and its implementation, leading it to release some FAQs.
CUNA has issued a comment call on NCUA’s proposed rule revising procedures for voluntary rules among federal credit unions. Comments are due to NCUA by Aug. 7, and can be sent to CUNA through Aug. 7 as well.
NCUA and other federal regulators issue an advisory Wednesday highlighting 2 appraiser options to help insured depository institutions facilitate timely consideration of loan applications. During a review process, issues attributed to limited availability of state-certified and licensed appraisers were raised.
The ABA filed a motion for summary judgment Friday in its suit against NCUA and its revised FOM rule. CUNA supports the NCUA's position in the lawsuit, and will likely file an amicus brief in the case.
The NCUA board approved three proposed rules for comment at Thursday’s board meeting, rules concerning appeals, the Supervisory Review Committee and voluntary mergers. The meeting also featured a quarterly update on the Temporary Corporate Credit Union Stabilization Fund.
NCUA Chair J. Mark McWatters wrote that a number of changes should be considered to CFPB rules and policymakings, to provide regulatory relief for credit unions, particularly with respect to exemption authority, HMDA and UDAAP requirements of Dodd-Frank.